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Delivering Integrated Data-Driven Solutions
Inovalon believes that healthcare is increasingly becoming data-driven in its nature, transactional in its design, real-time in its speed, and ultimately consumer-centric in its focus. Driven by the first waves of disease-burden based reimbursement models and quality incentive programs, data has gained an increasing role in U.S. healthcare.
On the back of this first phase of value-based care transformation, data is increasingly differentiating the leaders from the rest of the pack as its aggregation, analysis, validation, and associated connectivity is increasingly able to identify individual patients’ unique needs, refine care plans, speed drug discovery and commercialization, reduce waste, expand the value proposition of medications and medical devices, and streamline healthcare workflows and supply chains. As transparency into the many facets of healthcare increases, the pace of the industry’s transformation will accelerate, ultimately placing the consumer at the center as they play an increasing active role in their care. In this setting, Inovalon has been rapidly expanding connectivity capabilities, the breadth and depth of differentiated datasets, sophistication of native cloud-based platform offerings, and investing in the technology and sales infrastructure to take these capabilities to market to support what is seen as a burgeoning transformation in the marketplace.
Inovalon has leveraged the capabilities and expertise developed over a decade in the payer market to successfully expand into large, growing adjacent markets such as pharma, providers, and medical devices. Passionate about its vision, Inovalon is steadfastly focused on empowering the healthcare industry’s transformation, serving as an enabling part of the fabric within the industry – serving all participants in the increasingly data-driven ecosystem. Inovalon provides capabilities that enable healthcare organizations to implement highly sophisticated value-based initiatives in very large scale. At the core of value-based initiatives is the need to aggregate and analyze data, garner meaningful insight from the results, and use these insights to drive material change to outcomes and economics. To achieve this, four competencies are needed:
- large-scale data connectivity, integration, and validation capabilities,
- advanced predictive analytics and high-speed compute,
- toolsets to translate resulting insights into real-world impact, and
- purpose-built data visualization and reporting.
To inform these competencies, massive-scale datasets and industry-leading subject matter expertise are needed.